Take-Over Price

Take-Over Price. The greater of (i) the Fair Market Value per Share on the date the option is surrendered to the Company in connection with a Hostile Take-Over or, if applicable, (ii) the highest reported price per Share paid by the tender offeror in effecting such Hostile Take-Over

Take-Over Price. The greater of (a) the Fair Market Value per Share on the date the particular Option to purchase Shares is surrendered to the Company in connection with a Hostile Take-Over or (b) the highest reported price per Share paid by the tender offeror in effecting such Hostile Take-Over. However, if the surrendered Option is an ISO, the Take-Over Price shall not exceed the clause (a) price per Share